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HYATT REGENCY NEW ORLEANS RE-OPENS ITS DOORS TODAY FOLLOWING A $275 MILLION REDEVELOPMENT

NEW ORLEANS, La. (October 19, 2011) – Today, Hyatt Regency New Orleans, one of the city’s most recognized hotels, proudly re-opens its doors for business. Following a $275 million redesign and revitalization, the hotel now boasts 1,193 all-new, strikingly sophisticated guest rooms, 200,000 square feet of state-of-the-art, flexible event space, expansive food and beverage offerings, and unprecedented service. The re-opening of this landmark hotel, centrally located downtown adjacent to the Mercedes- Benz Superdome, marks one of the most significant hospitality developments to open in New Orleans in over a decade.

“The commitment of Hyatt Regency to rebuild a world-class luxury hotel reinforces the optimism we feel today as we continue to create a New Orleans we all deserve,” said Mayor Mitch Landrieu. “This beautiful new property will not only provide an important anchor for this bustling sports and entertainment district, but the redevelopment will result in a tremendous impact on our local economy, on job opportunity, and on our core business of tourism.”

“As an integral part of New Orleans’ downtown for more than 30 years, Hyatt Regency New Orleans was one of the most visual representations of Hurricane Katrina’s aftermath,” said Chuck Floyd, chief operating officer, North America, Hyatt Hotels Corporation. “Today, we proudly re-open our doors with a superior product, the new star of Crescent City, exemplifying the Hyatt brand with outstanding accommodations, dining options and customer service.”

Eagerly anticipated by locals and visitors alike, the newly restored Hyatt Regency New Orleans re-opens as the city’s premier meeting and convention hotel. Having doubled its meeting and exhibition space, the 32-story hotel offers the most meeting space of any hotel in the city, as well as the unique ability to self-contain group events of all sizes. This includes two 25,000-square-foot ballrooms, 64 versatile meeting and banquet rooms, 19 executive level meeting rooms, seven permanent boardrooms, and more than 80,000 square feet of exhibition space, highlighted by a new 50,000-square-foot exhibit hall.

With dramatic design that complements the uniqueness of New Orleans, award-winning interior designers Looney & Associates, in collaboration with the creative architectural design team at HC Architecture, conceived the extraordinary redesign of the city’s iconic hotel. Looney & Associates revitalized all interiors, including the lobby, restaurants and meeting spaces, as well as 1,193 guest rooms, including 95 suites, five meeting planner suites and four presidential suites. HC Architecture conceptualized the transformation of the exterior structure paying special attention to the new entrance on Loyola Avenue. The hotel’s new, innovative design makes it the ideal urban destination for business and leisure travelers.

“The re-opening of Hyatt Regency New Orleans is symbolic as it represents the end of a journey and the beginning of a new chapter for Hyatt and the city of New Orleans,” noted Michael Smith, General Manager, Hyatt Regency New Orleans. “We spared no detail in positioning ourselves to be the quintessential hotel for conventions, leisure and business travelers alike.”

Joining Mayor Landrieu at the podium today were Chuck Floyd, North American Chief Operating Officer, Hyatt Hotels Corporation; Chris Robertson, Managing Partner, Poydras Properties; Bob Gigliotti, AREA Property Partners; Stephen Perry, President/CEO of the New Orleans Metropolitan Convention & Visitors Bureau; and Jerry Romig, voice of the Saints, as Master of Ceremonies. Following opening remarks, 5,000 silver and purple biodegradable balloons were released into the sky to signify the hotel’s rise from near destruction to remarkable return.

Hyatt Regency New Orleans anchors the vibrant Sports and Entertainment District in downtown New Orleans. The hotel is located adjacent to the Mercedes-Benz Superdome, New Orleans Arena and the new Medical District; and just blocks from the French Quarter, Morial Convention Center and Mississippi Riverfront. In 2012, the new Loyola Avenue Streetcar line will make the hotel even more connected to all the city has to offer.

Hyatt Regency New Orleans is owned by Poydras Properties Hotel Holdings, a hospitality venture that includes AREA Property Partners, Poydras Hotel Members LLC, and a subsidiary of Hyatt Hotels Corporation.

Hyatt Regency New Orleans re-opened on October 19, 2011 after a $275 million redesign and revitalization featuring 1,193 guest rooms and suites, 200,000 square feet of meeting and event space, expansive food and beverage offerings, and unprecedented service. Located downtown on Loyola Avenue, the hotel is adjacent to the Mercedes-Benz Superdome and anchors the vibrant Sports and Entertainment District. Hyatt Regency New Orleans borders the new Medical District, the Arts & Entertainment District and is just blocks from the French Quarter, Ernest N. Morial Convention Center and the Mississippi Riverfront. For reservations and additional information, please call 888.591.1234 or visit www.neworleans.hyatt.com.

About AREA Property Partners

AREA Property Partners, formerly known as Apollo Real Estate Advisors, is a leading international real estate investor and fund manager on behalf of prominent government and corporate pension funds, sovereign wealth funds, insurance companies, foundations, endowments, and high net worth individuals. Since the firm’s founding in 1993, AREA Property Partners has overseen the establishment of multiple real estate funds and joint ventures totaling $13 billion in equity commitments for investments in the United States and globally. Its funds have collectively invested in over 515 transactions with an aggregated value in excess of $60 billion. Headquartered in New York, the firm has offices in Atlanta, Los Angeles, San Francisco, London, Los Angeles, Paris, Luxembourg and Mumbai.

About Poydras Hotel Member LLC

Poydras Hotel Member LLC is a major real estate investor in the Southeast United States focusing on major markets.